The Mexican peso appreciated to 17.01 per dollar

Mexico City. The weakness of the dollar worldwide supported the exchange rate in Mexico to regain positive ground at the beginning of the week.

The Mexican peso appreciated 0.75 percent, equivalent to 12.81 cents against the US currency, to close at 17.0185 units per spot dollar.

Pending the outcome of the Federal Reserve’s monetary policy meeting, the Mexican currency managed to trade below 17 per dollar, but failed to close below that psychological level. One session until the end of April, the Mexican peso presents a loss of 2.75 percent.

According to data from the Bank of Mexico, the exchange rate operated this Monday between a maximum of 17.0540 units and a minimum of 16.9930 units.

For its part, the dollar index showed a depreciation, according to its weighted index, which measures the behavior of the US currency against a basket of six international currencies, of 0.26 percent, to close at 105,525 units.

In the midst of a correction in the dollar, markets await the outcome of the two-day meeting of the United States Federal Reserve (Fed), which although they are expected to maintain rates at their current level, 5.25 and 5.50 percent, They will be attentive to what Jerome Powell, president of the Fed, says in his conference.

Wall Street closed higher on Monday to kick off a week filled with a Federal Reserve rate decision, the monthly jobs and earnings report from more tech heavyweights.

The S&P 500 rose 0.32 percent, to 5,116.17 units. The tech-heavy Nasdaq gained 0.35 percent to 15,983.08 points, while Tesla shares rose 15 percent amid upbeat news related to the electric vehicle giant’s full self-driving technology in China. The Dow Jones Industrial Average, which has fewer technological components, rose 0.38 percent, to 38,386.09 points.

Stocks briefly gave up the previous session’s gains after the U.S. Treasury raised its federal borrowing estimate by $41 billion to $243 billion for the current quarter. The 10-year Treasury yield rose to 4.627 percent, according to estimates.

Investors are counting down to the Federal Reserve’s policy decision at the end of its two-day meeting on Wednesday. Confusion reigns over whether the cooling of inflation has stalled and what any persistence of price pressures for interest rate cuts means.